S&P: Chemicals debt at record levels, but maturities manageable

11:37 AM MDT | August 9, 2013 | Vincent Valk

Low interest rates and easy access to credit markets have driven chemical-company debt up to record levels, according to a new report by rating service Standard & Poor’s (S&P; New York). Total reported debt at chemical companies rated S&P totaled nearly $150 billion in early 2013, the ratings service says. Among the 42 companies S&P has rated consistently since 2007, debt levels have increased 71% since that time, to around $120 billion, S&P says. "We believe that refinancing risk could become significant under certain conditions...